Smoother sailing: The industry has recovered from choppy waters, but revenue has sunk overall

The Sea & Coastal Freight Water Transport Industry is a crucial link between many Irish firms and the world economy. The industry provides transportation services for many sectors, such as manufacturing, retail, and commodities, amongst others. The industry heavily relies on international trade, from which the majority of demand for industry services is generated. Over the past five years, the industry has faced a number of challenges, including oversupply in capacity due to a sharp increase in the number of vessels, during periods of strong economic growth, whereby operators increased the number of ships in their fleet. This ultimately led to a decline in freight rates, hampering revenue throughout much of the period...read more.

Industry Statistics & Market Size
Revenue
€324.2m
Annual Growth 13-18
-0.2%
Forecast Growth 18-23
Profit
Employment
315
Businesses
96
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • The industry has faced challenges from falling freight rates due to overcapacity, limiting its performance
  • Maritime transportation is currently the most energy efficient method of transporting freight
  • Margins are expected to decline as operators face rising fuel costs and more stringent regulations
  • Industry Report - Starting a New Business Chapter

    The Sea & Coastal Freight Water Transport industry exhibits high barriers to entry. This is due to the high level of investment that is required to operate within the industry, such as the purchase of ships and TEU containers, computer-assisted freight tracing systems, labour costs, and the exploration of shipping lines. Furthermore, the industry has a high level of competition, due to the oversupply of freight capacity. Thus, many industry operators push prices down to draw in customers, which can deter many new entrants into the industry. Many new operators may not be able to compete effectively, as smaller operators tend to make less profit than larger operators, as larger firms benefit from economies of scale...purchase to read more.

    Additional Insights for the Sea & Coastal Freight Water Transport Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Sea & Coastal Freight Water Transport Industry are

  • Ability to accommodate environmental requirements
  • Economies of scale
  • Ability to pass on cost increases
  • IBISWorld analysts also discuss how external factors such as Total value of world trade and Consumer sentiment index in the Sea & Coastal Freight Water Transport industry impact industry performance..

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    What's in this report

    What is the Sea & Coastal Freight Water Transport in Ireland Industry?

    Operators in this industry transport bulk and non-bulk freight on vessels designed for the open sea or coastal waters. The industry includes scheduled and unscheduled activities, towing barges, and oil rigs. The industry excludes freight storage, harbour operation and cargo handling.

    Industry Products
  • Liquid bulk shipping
  • Container ship services
  • Transporting dry-bulk products
  • General cargo services
  • Industry Activities
  • Transporting containers overseas and in coastal waters
  • Transporting dry bulk cargo overseas and in coastal waters
  • Transporting Liquid bulk cargo overseas and in coastal waters
  • Transporting crude oil and petroleum products overseas and in coastal waters
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Total value of world trade
  • Consumer sentiment index
  • Industrial production index
  • Gross disposable income of households

  • Current Performance
    Profit overboardClimate concernsOversupply and participation
  • Chart: Revenue Growth

  • Industry Outlook
    Enterprises and technology
  • Table: Sea & Coastal Freight Water Transport Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Sea & Coastal Freight Water Transport Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Forestry & Logging in Ireland
  • Crude Petroleum & Natural Gas Extraction in Ireland
  • Fruit Growing in Ireland

  • Key Selling Industries
  • Boat Repair & Maintenance in Ireland
  • Fuel Wholesaling in Ireland
  • Shipbuilding in Ireland

  • Products & Services
  • Liquid bulk shipping
  • Container ship services
  • Transporting dry-bulk products
  • General cargo services
  • Chart: Sea & Coastal Freight Water Transport Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Oil companies
  • Freight forwarders
  • Manufacturers
  • Other industries
  • Construction industries
  • Retailers and wholesalers
  • Chart: Major Market Segmentation for the Sea & Coastal Freight Water Transport Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Depreciation
  • Utilities and rent
  • Wages and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Sea & Coastal Freight Water Transport

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Sea & Coastal Freight Water Transport Industry

  • Industry Globalization
    Irish Continental Group plc,
  • Table: Irish Continental Group plc - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Sea & Coastal Freight Water Transport Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Sea & Coastal Freight Water Transport Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Deep-Sea Shipping
  • Freight maritime activity that crosses oceans.
  • Dry Bulk
  • Dry-bulk cargo typically includes commodities such as coal, steel and iron ore.
  • Teu
  • A unit of measurement for containerised cargo capacity. Twenty-Foot Equivalent Unit
  • What Our Customers Say

    Why buy this report?

    The Sea & Coastal Freight Water Transport in Ireland market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Sea & Coastal Freight Water Transport in Ireland:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Sea & Coastal Freight Water Transport in Ireland market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Sea & Coastal Freight Water Transport in Ireland, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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